Tuesday, June 14, 2011

Former Finance Secretary leads other Private Sectors in the establishment of the "Support YOUR NAVY Foundation"

Prominent figures in politics, business and civil society led by Former Finance Secretary Jesus Estanislao have taken up the cudgels for the Philippine Navy organizing and leading a foundation that seeks to marshal support and resources from the private sector to support the Navy's modernization and capability-building programs.

"We accepted the invitation of the Flag Officer-in-Command (Vice Admiral Alexander Pama) to serve as Board of Advisers to save the Navy because we wanted to bring down many walls keeping the various sectors of society apart. We decided to take the lead...We want to say that our Philippine Navy cannot do it alone and our Navy needs the support of all sectors" Estanislao told the Navy's officers and personnel in his speech.

Captain Bacordo, the Director of the Center for Naval Leadership Excellence said that the foundation would help fund the Navy programs since 70% of their budget goes to personnel salaries and the rest goes to maintenance and operating expenses so there is hardly left for capital outlay. "Through the foundation, we will no longer be dependent 100% to the General Appropriations Act,"he added.

Navy's Spokesperson said "through the foundation, well-meaning private groups and individuals could participate in our Navy's program. The foundation will serve as a major bridge between our Navy and the private sector where donations and pledges ranging from scholarships, equipment, facilities, trainings, cash donations and alike could be coursed through to enhance our Navy’s capabilities." - Inquirer